EURUSD – When the Green Light Begins to ShineHello traders,
On the 4-hour chart, EURUSD is showing signs of shifting from a consolidation phase to a clearer mild uptrend . The price has found a solid base near the 1.1595–1.1600 area, rebounding from the ascending trendline and now aiming for resistance around 1.1710 — a level where a stronger breakout could occur if buying momentum strengthens.
Not just technically, but also fundamentally, recent Eurozone economic data such as PMI and consumer confidence beating expectations , combined with a softer USD as markets await the Federal Open Market Committee (FOMC) decision, are creating a favorable backdrop for the euro to attract capital inflows.
Thus, the most likely short-term scenario is that EURUSD might dip slightly toward ~1.1600 for momentum , then bounce up toward ~1.1710. If this move is confirmed by a clean breakout above resistance, it could mark the start of a more sustainable bullish trend.
In short, traders should wait for technical confirmation from support and a breakout above resistance before stepping in. It may not be a dramatic surge, but it’s a steady and promising bullish opportunity — the “golden bull” of EURUSD looks ready to move.
